Latest news with #EnergyUpdate
Business Recorder
11 hours ago
- Business
- Business Recorder
Taxing solar panels to backfire as Pakistan needs time to bolster manufacturing: Experts
Energy experts believe that the imposition of General Sales Tax (GST) on the import of solar panels, regardless of the final tax rate decided by the federal government, will not slow down Pakistan's accelerating transition to renewable energy. Moreover, contrary to the government's assumption that the imposition of GST would promote domestic industry, experts argue that the move would backfire as the local industry remains underdeveloped and is presently unable to meet the market demand. The remarks were made by clean energy experts, industrialists, climate activists, and renewable energy traders during a webinar titled 'Taxing the Sun: Will Solar Still Shine in Pakistan?', jointly organised by Energy Update and Pakistan Solar Association (PSA). During the webinar, participants examined the federal government's recent budgetary proposal to impose GST on solar panels. The government in its federal budget proposed to impose an 18% GST on solar panels imported. This sparked considerable debate; however, after consultations, the government decided to lower the rate to 10%. Waqas Moosa, PSA Chairman, highlighted that the decade from 2020 to 2030 has been globally recognised as a pivotal era for transitioning to clean energy. He indicated that Pakistani consumers would persist in embracing solar energy to power their homes and businesses, regardless of the added cost from GST. Moosa, however, cautioned that Pakistan's local industry is not yet sufficiently developed to meet the growing demand for advanced solar panels in adequate quantity. 'As such, relying solely on local production at this stage could risk stalling progress.' Moosa strongly criticised the proposal to tax imported solar panels, calling it a serious setback to Pakistan's efforts in combating the climate crisis. 'Whether or not a tax is implemented', he said, 'Domestic consumers will continue shifting to solar energy due to persistent power shortages and unaffordable electricity tariffs from the national grid.' Muhammad Zakar Ali, CEO of Inverex Solar Energy, also echoed similar sentiments. He said that the vast majority of electricity users in Pakistan will continue to transition away from grid-supplied electricity, regardless of tax implications. Ali argued that Pakistan needs a minimum of 18-24 months to establish a viable local industry capable of producing clean energy equipment at scale. Imposing a tax prematurely could deter both domestic and international investors, he warned. He further noted that high electricity tariffs for industrial users could discourage investment in solar panel manufacturing plants. Ali, however, remained optimistic that prospective Chinese investors would soon launch joint ventures with Pakistani industrialists to set up such facilities. The Inverex CEO explained that establishing local solar panel manufacturing plants could lead to the development of five supporting vendor industries, significantly boosting the clean energy supply chain in Pakistan. Pakistan's solar surge lifts it into rarefied 25% club Dr Khalid Waleed, Research Associate at the Sustainable Development Policy Institute (SDPI), believed that the surge in rooftop solar installations in urban centres presents an opportunity for Pakistan to earn carbon credits on the global climate finance market. During the webinar, Tanveer Barry, Former Vice President Karachi Chamber of Commerce and Industry (KCCI), pointed out that while Pakistan's installed electricity generation capacity exceeds 45,000 megawatts (MW), only around 27,000 MW are currently deliverable to end-users due to outdated and overburdened transmission infrastructure. Barry also highlighted the immense untapped potential for solar energy adoption among off-grid rural households and agricultural communities across the country.
Globe and Mail
20-03-2025
- Business
- Globe and Mail
Crude Oil Outlook: Bullish Catalysts Emerge Amid Geopolitical Tensions
***ANALYSIS & LEVELS ROLLED TO MAY FUTURES *** Bias shift to Neutral / Bullish from Neutral WTI Crude Oil Futures (May) Yesterday's Settlement: 66.91 up +0.16 [+0.24%] WTI Crude oil futures settled marginally higher yesterday. Crude settlement is made official at 1:30pm CST, right when the Fed meeting began. The Fed yesterday issued a hawkish and darkened outlook on the U.S. economy yesterday alongside a more elevated forward path of their projected 'neutral' rate. Despite this, equity markets rallied after the meeting. At this point, it looks like most of this negative sentiment has been priced in, at least in equity markets. The Russian – Ukraine ceasefire has all but fallen through while Israel continues to lash out against Middle Eastern foes military. The upside to crude still looks attractive. Today, May Futures are lower by -0.04 to 66.87 Yesterday's EIA report showed a strong surge in U.S. exports of petroleum and petroleum products. The Russian – Ukraine ceasefire looks to be in serious jepordy as Russia struck Ukrainian energy assets overnight. Alongside the Middle Eastern conflict ramping, catalysts are trending bullish. The one deterrent to our more bullish tilt is the possibility of a Dollar strength coming through. With the Fed's higher outlook for their neutral rate, flows into U.S. treasury's once this government shutdown is sorted out could reverse the dollar weakness we've seen to start the year Technical Analysis: ***ANALYSIS AND LEVELS ROLLED TO MAY CONTRACT ***Bias upgraded to Neutral / Bullish from Neutral We remain tactically bullish on our bias through the end of the week. Technically futures remain in our highlighted trading range by the chart above. For intraday trading our pivot and point of balance is set at… Want to stay informed about energy markets? Subscribe to our daily Energy Update for essential insights into Crude Oil and more. Get expert technical analysis, proprietary trading levels, and actionable market biases delivered straight to your inbox. Sign up now for free futures market research from Blue Line Futures! Sign Up for Free Futures Market Research – Blue Line Futures Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Blue Line Futures is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition. With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@ or call us at 312- 278-0500 Performance Disclaimer Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
Globe and Mail
06-02-2025
- Business
- Globe and Mail
WTI Crude Slides Amid Geopolitical Tensions and Market Uncertainty
Yesterday's Settlement: 72.70, down -0.46 [-0.63%] WTI Crude Oil futures started the day sharply lower, falling as much as -2.49 to a low of 70.67. Mid-morning, Trump signed a memorandum instructing the Treasury Department to ramp up economic pressures on Iran. The headline rallied crude markets 2.68 higher, making a session high of 73.35 before leveling out to settle around 72.70. There was no shortage of headlines yesterday as markets continued to wade through a barrage of executive orders and Trump commentary. Today, futures are lower by -0.76 [-1.05%] to 71.96 The macro environment is trading mixed this morning. The Dollar, equities, and crude oil are all lower while precious metals are strongly higher. Gold is breaking out to the upside and showing notable strength. Dollar weakness should help buoy crude. Bonds are also showing notable strength this morning. Trade tensions with China heated up last night as they threatened 'anti-trust' probes against Apple. The reopening of Chinese markets after their New Year's holiday brought with it little action. Trump referenced the United States 'taking over' the Gaza territory at a press conference with Netanyahu yesterday. This triggered a sharp reaction from Saudi Arabia and will likely bring strong pushback from our allies in the Gulf. If this is an actual plan, it is something to pay attention to closely. Last night's API report helped to pressure the overnight session, while the reopening of Chinese markets after their Lunar New Year holiday provided some support. Last night's API report was as follows [thousand bbls]: Crude Oil: +5,000 Gasoline: +5,400 Distillates: -7,000 Estimates for today's EIA report are as follows [thousand bbls]: Crude Oil: +2,000 Gasoline: -880 Distillates: -2,138 Refinery Utilization: -0.60% Technical Analysis: Price action in crude oil will continue to be whipsawed by headlines, but yesterday's settlement above our rare, four-star support level of 71.25-71.63**** should slow the downside momentum we've seen since mid-January. A settlement today above the rare 71.25-71.63**** is our key factor for today. If price can stabilize above this support zone, a choppy trade is anticipated. But, again, these markets are being driven by headlines that can create sizeable moves. Risk management and selectivity in trading remains a key. Want to stay informed about energy markets? Subscribe to our daily Energy Update for essential insights into Crude Oil and more. Get expert technical analysis, proprietary trading levels, and actionable market biases delivered straight to your inbox. Sign up now for free futures market research from Blue Line Futures! Sign Up for Free Futures Market Research – Blue Line Futures Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Blue Line Futures is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition. With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@ or call us at 312- 278-0500 Performance Disclaimer Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
